Expansion planned overseas
Traveltek to raise funds and create 200 jobs
Traveltek, the East Kilbride-based provider of booking systems for travel and hotel businesses is creating 200 technology jobs and embarking on a fund-raising exercise as part of a three-year growth plan.
The company has announced that it wants to increase turnover five-fold to £25 million and open three overseas offices.
It specialises in building and maintaining bespoke booking systems and its clients include many household names.
Founded by Kenny Picken in 1995, the business has grown from a start-up to employing nearly 100 staff and turning over £4.3m. The company processes many millions of lines of data every day, and its systems underpin the day-to-day booking operations of a growing number of travel trade businesses across the world.
Traveltek the majority of the recruits will be based at the company’s head office. Offices will be opened in Sao Paulo, Shanghai and Dubai, joining those in Miami, Sydney and Hyderabad, which is a development centre.
The company is seeking growth finance to help drive the expansion, and will shortly start a marketing process to the venture capital, private equity and angel communities.
Mr Picken, president and group managing director, said there is a “significant opportunity” to develop Traveltek into a major global technology business.
“Growth finance will enable us to accelerate that process, build a larger global footprint and create a large number of high quality technology jobs, many of which will be in Scotland.
“The right partner will share our vision and the funding will help us invest in the latest technology, new infrastructure, business systems, business development and new talent.”
Chris Horne, managing partner with advisers Campbell Dallas, added: “Traveltek has quietly grown into a significant Scottish technology business, is very profitable and is continuing to grow. Growth finance will enable the business to take a quantum leap forward with its ambitious expansion strategy.”